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Nokia shares soared 13%



Nokia’s stock rose 13% on Thursday. The Finnish telecommunications equipment manufacturer reported that this year was a “strong start” and its performance exceeded expectations. Revenue in the first quarter rose 3% to 5.08 billion euros ($6.2 billion), exceeding the 4.75 billion euros expected by analysts surveyed by FactSet. Nokia reported a comparable net profit of 373 million euros, higher than the expected 90 million euros. Nokia expects annual net sales to be between 20.6 billion euros and 21.8 billion euros, and supports guidance for 2021 and 2023. Operating profit margin range. “Nokia President and CEO Pekka Lundmark said. “We expect the typical quarterly profit season will become less obvious in 2021

, and we will continue to monitor the overall market development, including visibility of semiconductor availability. He said that despite the global semiconductor shortage, Nokia continues to provide services to customers.


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